Maths / Odds help

[vanbuuts]

Hi everyone

I lay a selection at 8.4 for £6

My liability on this is £44.40

I want to exit when my red out is £3. How do I calculate what odds level this would dip too to enable a £3 red out (or thereabouts).

The answer happens to be around 5.6 - I just don't know the maths behind it

[Captain Sensible]

It's simply a balanced equation so
closing stake times closing odds = opening stake times opening odds

Your closing stake simply becomes opening stake + 3

so

(6 + 3) x closing odds = 6 x 8.4

rearranged becomes

closing odds = (6 x 8.4) /(6+3)

closing odds = 5.6

[vanbuuts]

Cheers mate I knew it was simple and straight forward